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Sales of goods act 1979
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The Sale of Goods Act 1979 requires goods to be exactly as they are described as well as being in satisfactory quality and fit for the purpose of its use. The term ‘fit for the purpose’ means that it should be useable for their everyday purpose as well as the reason they bought it, for example, if you searched online for computer parts such as, a graphics card or motherboard, you would want it to be compatible with your computer.
Consumer Protection from Unfair Trading Regulations, 2008
The Consumer Protection from Unfair Trading Regulations gives consumers security from unfair or confusing trading practices and it also bans confusing omissions and forceful sales techniques. The term unfair is defined when a commercial practice falls below the standards of skills and it’s also when it affects the consumers ability to make a right decision on whether or not to buy a specific product.
Consumer Credit Act 1974 and 2006
The consumer credit act controls credit card purchases but also gives you security when you enter into a loan etc. it also gives people the right for a cool off period, furthermore, this act covers the info clients should get before they enter into a credit agreement they also get the technique of calculating yearly percentage for the rates of interest and more.
Consumer Protection (Distance Selling) Regulations
Consumer protection is a group of laws designed to prevent firms that engage in fraud etc. nevertheless, consumer protection laws are a form of government regulation which aims to protect the right of the consumers. The consumer is defined as someone who buys goods for personal use or ownership rather than re-selling the good or using it in production or manufacturing of other products.
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...iano Ronaldo, Kobe Bryant and many more to endorse its products as it can help the company hit the sales target, furthermore, firms also tend to give out free products to celebrities leading them to wear it and giving free publicity which companies like Nike can really benefit from. Celebrity marketing also leads Nike customers to believe that their products helps them, reach a high status and it can also lead many young consumers to believe that they acquired the ability to show off also contributing to the gain of more potential customers.
Relationship marketing is also a key technique used by businesses because it involves building relationships with customers for example giving out discounts and special offers; this can help a business out as the customers may potentially become repeat customers meaning more products would be bought resulting in a bigger profit.
The role of law reform has responded rather effectively to a certain extent in protecting the rights of consumers. This is evident in the legal responses introduced to address issues of credit, marketing innovation and technology. These law amendments has effectively increase the protection of the rights of consumers to a certain extent, however loopholes still exist. Due to the increasing range of goods and services continues to grow and the failure of existing laws, the role of law reform has been significant in protecting the rights of consumers. Consumer laws were created to prevent deceitful activities, or unfair business practices, as well as serving a protection for weaker parties who are unable to protect themselves. However, laws were later reformed to enable customers to transact with confidence and protect suppliers, consumers from inappropriate business conduct and to reflect changed community values and circumstances.
Celebrity endorsements can make or break a product and even a company. Especially in today’s world many teens will buy a product just predominantly based on who endorses it. For example, Beyoncé promotes both Pepsi and H&M. She is a great representative for both because she is a really big celebrity and she is very well known. She also has a lot of influence. Young girls would love to dress like her and with H&M endorsing her they get that demographic. Pepsi made a good choice because she, like the previous celebrities they endorsement deals with, is a very public figure with a very big name. Many teens and young ...
Firstly it is important to explore the reason of Consumer Law. Consumer Law is designed to prevent business to engage in unfair practices, gaining an advantage over competition and also to provide protection to those who are weak. Furthermore it is to provide protection to consumer, encourage consumption and help inform consumer and suppliers of their rights. Additionally Consumer Law helps deliver a competitive economy which engages in fair trade actions.
A consumer is a person who is seeking for products and services for personal, domestic and household use or consumption only.
The Federal Trade Commission is consisted of three bureaus and ten offices. Each bureau is intended to focus on a specific area to ensure that fair-trading is being practiced in the country. The Bureau of Competition seeks to eliminate anticompetitive business practices through the antitrust laws, ensuring that consumers receive goods and services at prices competent to their qualities. The Bureau of Consumer Protection seeks to protect consumers from unfair and fraudulent practices. Moreover, the bureau investigates individual companies and corporations to ensure that no fraudulent activity is endangering...
It’s because when I sport the Nike swoosh, I feel as if I representing the Nike brand and the beautiful, driven, fit women I see in their advertisements. Feeling this way gives me the inspiration and confidence to play my best. I feel as if I identify with the women in the advertisements by wearing Nike. “The relationship between persons and the product remains one of the most crucial signifiers within advertisements. Persons in advertisements supply the consumer with a certain identification frame—whether the person is presented as a user or is presented within a lifestyle setting, the viewer is invited to identify him/herself with the presented person.” 202 Brand Culture. The Nike brand does a great job at doing this to their consumers to create brand loyalty. Nike brand users, just like myself, see the athletes using the brands and feel a certain connection to them. Brand loyalty should not only be a goal for brands because of the benefit of having their logo advertised on consumers who fit within their target market, but also for PRICE SOMETHING ECONOMY
The competition and consumer act aims to discourage price discrimination in the business environment if the discrimination could substantially reduce competition. An example of price discrimination would be Apple with the distribution of IPhone 5c around the world, the prices vary from $500-$1,500(local currency). The IPhone 5c is less-profitable for Apple but still the price range has a big gap e.g., in Singapore the iPhone costs $948, but in the UK it costs $529 . There are three types of price discrimination (first degree, second degree and third degree) and they all discriminate differently. The price discrimination in business will increase revenue, they will attract more consumers and will enable companies to stay in business. The consequences for price discrimination is that the manufacture/business will get sued by consumers for price discrimination especially when paying higher prices, decline in consumer surplus, there may be administrative costs of separating the markets etc. However, Price discrimination has a lot of impacts on consumers and business owner 's around the world but most importantly it affects people that have been discriminated over the price for the same
The Consumer Product Safety Act states that any company that receives numerous complaints about a products defects must report these claims to the CPSA. According to the CPSA reporting responsibilities belong to manufacturers, importers, distributors and retailers of consumer products. Each is required to notify the Commission if it obtains information which reasonably supports the conclusion that a product fails to comply with a consumer product safety standard or banning regulation. Also if the product contains a defect which could create a substantial product hazard, creates an unreasonable risk of serious injury, or death to the consumer.
As the customer is the subject of relationship marketing, marketing should emphasize on customer needs, while customer value may “one-dimensionally in term of need satisfaction” (Hackley, 2009, p.64). From the “one-dimension” concept, marketing can regard as an integrated process, which utilizes techniques to develop and produce products to meet customer requirement, including market analysis and market targeting (Arndt, 1980, p.390). For example, it is effective to use relationship management software to track and analyze costumers’ preference to attract and satisfy more customers in relationship marketing. However, the “one-dimension problems-solving discipline” just completes the part of selling in transactional marketing, it may also ignore the customer demand of which is not included in the target market. What’s more, relationship marketing not only focuses on the short-term commodity trading, but also long-term service quality and forward-looking strategies. The significance of relationship marketing is far more than the exchange, because the exchange will be of common occurrence once the mutual trust mechanism has been established. Moreover, marketing would not end at the completion of the transaction, but following a series of after-sale service and the stabilization of
The purpose of a campaign is to deliver a prospective consumer to the point of sale. Nike uses what is classified as a product oriented advertising campaign. Nike’s entire campaign is centered on convincing the consumer to purchase their product. The goal of most product campaigns is to educate and prepare the consumer to exhibit purchasing behavior, so that their company may become the leader in its market. Since Nike is already the leading athletic apparel company, their goal is probably to stay on top. Some of the major strategies used to achieve this goal are the use of television, magazine, and Internet advertisements.
In order to retain back these potential consumers or loyal consumers businesses go through these customer retention techniques. As a result if the customer retention is improved by at the least even a small scale, the outcome is indeed a huge increase in the profit. Maintaining a close contact with its own customers, enables an organisation to know the personal satisfaction of their regular customers as well as the ability to respond quickly to their needs and demands. For businesses to keep customers loyal towards them, businesses will have to build a good relation or interaction with their customers. No interaction with its customers means no growth in an organisation. It is the base for any consumer motivation and consumer
would like to put you in a situation and show you how a consumer can
Thus, consumer protection laws, prohibit unfair or defective acts from being practiced by companies.
- inform themselves on specifications, requirements, capabilities of product or service - part of consumer’s responsibility
Relationship marketing focuses on creating and maintaining customer relations (Shani and Chalasani, 1992, p. 34). Berry (1995, p. 237) argues for the value of the protection of the customer base and the costs of replacing old with new customers. (. 1992, p 34) defines Chalasani Shani and relationship marketing in a formal way: "[...] an integrated approach to identify, maintain and build a network with individual consumers and continuously strengthen the network for the benefit effort mutual on both sides, through interactive, individualized and value-added for a long time contacts. " Three factors have been examined as drivers and prerequisites for building relationships are trust, commitment and satisfaction (Morgan and Hunt, 1994; Hawkins and Vel, 2013 ;. Palmatier et al., 2007; Bejou et al, 1998). Morgan and Hunt (1994, p. 24) argue that the parties place more value on a relationship that involves trust. Morgan and Hunt (1994, p. 23) also argue that if there is a commitment in the relationship, it is desirable for the customer to put effort into maintaining it. A third factor that can be added to these drivers is satisfaction. Satisfaction has been considered as a "fundamental principle" (Bejou, et al., 1998, p. 170) for relationship marketing. Convinced by these strong arguments about the